Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by GAM Holding AG

GAM Holding AG increased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 30.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,607 shares of the manufacturing equipment provider's stock after buying an additional 12,253 shares during the period. GAM Holding AG's holdings in Applied Materials were worth $7,634,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AMAT. Norges Bank bought a new position in Applied Materials during the fourth quarter worth $1,588,422,000. GAMMA Investing LLC grew its holdings in shares of Applied Materials by 18,402.1% during the first quarter. GAMMA Investing LLC now owns 1,824,304 shares of the manufacturing equipment provider's stock valued at $2,647,430,000 after buying an additional 1,814,444 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Applied Materials by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,230,464 shares of the manufacturing equipment provider's stock valued at $1,663,780,000 after buying an additional 1,602,645 shares during the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of Applied Materials by 301.6% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,959,997 shares of the manufacturing equipment provider's stock valued at $318,754,000 after buying an additional 1,471,953 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Applied Materials by 10,767.6% during the fourth quarter. Two Sigma Investments LP now owns 1,347,580 shares of the manufacturing equipment provider's stock worth $219,157,000 after purchasing an additional 1,335,180 shares during the last quarter. Institutional investors own 80.56% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Citigroup boosted their price target on shares of Applied Materials from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Jefferies Financial Group upgraded shares of Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 target price on the stock in a research note on Friday, March 28th. Needham & Company LLC reiterated a "buy" rating and issued a $195.00 target price on shares of Applied Materials in a research note on Friday, May 16th. Wells Fargo & Company reiterated a "mixed" rating on shares of Applied Materials in a research note on Friday, May 16th. Finally, TD Cowen dropped their target price on shares of Applied Materials from $225.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $199.29.

Applied Materials Stock Down 2.0%

NASDAQ AMAT traded down $3.38 during trading hours on Friday, reaching $169.46. 18,385,582 shares of the company's stock traded hands, compared to its average volume of 7,005,164. Applied Materials, Inc. has a 52-week low of $123.74 and a 52-week high of $255.89. The firm has a market cap of $135.99 billion, a PE ratio of 20.62, a PEG ratio of 1.89 and a beta of 1.67. The firm has a 50-day simple moving average of $159.11 and a 200 day simple moving average of $162.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.08. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The firm had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the prior year, the firm posted $2.09 earnings per share. The business's revenue was up 6.8% on a year-over-year basis. Sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.09%. Applied Materials's dividend payout ratio (DPR) is presently 22.38%.

Applied Materials announced that its board has approved a share repurchase program on Monday, March 10th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the manufacturing equipment provider to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at Applied Materials

In other news, CEO Gary E. Dickerson bought 50,000 shares of the stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average price of $137.30 per share, for a total transaction of $6,865,000.00. Following the acquisition, the chief executive officer now owns 1,716,058 shares of the company's stock, valued at $235,614,763.40. The trade was a 3.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Adam Sanders sold 450 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $144.83, for a total transaction of $65,173.50. Following the completion of the sale, the chief accounting officer now owns 6,077 shares of the company's stock, valued at $880,131.91. This trade represents a 6.89% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company's stock.

Applied Materials Company Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.